File #: 16-529    Name: Costco Agreement
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 5/17/2016 Final action: 5/17/2016
Title: Consider/Discuss/Act on a Resolution Approving Chapter 380 Economic Development Agreement Between the City of McKinney, Texas, and Costco Wholesale Corporation, a Washington Corporation
Attachments: 1. Resolution, 2. Chapter 380 Agreement

 

Title

 

Consider/Discuss/Act on a Resolution Approving Chapter 380 Economic Development Agreement Between the City of McKinney, Texas, and Costco Wholesale Corporation, a Washington Corporation

 

Summary

 

COUNCIL GOAL:                     Direction for Strategic and Economic Growth

 

MEETING DATE:                     May 17, 2016

 

DEPARTMENT:                      City Manager

 

CONTACT:                       Tom Muehlenbeck, Interim City Manager

 

RECOMMENDED CITY COUNCIL ACTION:                     

  • Approve the Resolution authorizing the execution of a 380 Economic Development Agreement between the City of McKinney, Texas, and Costco Wholesale Corporation, a Washington Corporation.
  •  
  • ITEM SUMMARY: 
  • This Resolution authorizes the Interim City Manager to execute the 380 Economic Development Agreement between the City of McKinney, Texas, and Costco Wholesale Corporation, a Washington Corporation.

 

BACKGROUND INFORMATION: 

•                     The City has the authority under Chapter 380 of the Texas Local Government Code to make loans or grants of City funds for the purposes of promoting local economic development and stimulating business and commercial activity within the City.

 

FINANCIAL SUMMARY:  N/A

 

BOARD OR COMMISSION RECOMMENDATION: N/A